Accountants, lawyers resolve to fight corruption

Tuesday, 17 May 2016 00:02 - - {{hitsCtrl.values.hits}}

Professions recognise cost of corruption to citizens and global economy

Ahead of the Anti-Corruption Summit London 2016, the International Federation of Accountants (IFAC) has signed a joint statement deploring corruption alongside professional accountancy organisations and the legal fraternity in the United Kingdom.

Welcoming the joint statement, IFAC President Olivia F. Kirtley said: “Defeating corruption—and thus immeasurably improving the lives of citizens—can only be achieved through re-energised collaboration between, and commitment of, leaders from both the public and private sectors.

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“Both sectors require transparent, consistent and robust anti-corruption measures, and effective internal controls that are critical to good governance and holding officials accountable. A greater focus on strong governance and compliance structures will help cultivate self-reporting cultures that empower individuals to do the right thing,” she said.

In March, Kirtley addressed the OECD Anti-Bribery Ministerial Meeting on behalf of the global accountancy profession. At the meeting, she highlighted the importance of greater international collaboration on whistle-blower protection laws, and the role strong organisational governance plays in identifying, preventing and addressing corruption.

“Success in the fight against corruption can only be achieved when everyone plays their part: governments and regulators ensuring that safe harbours and whistle-blowing protections are provided, and other professions ensuring that their members embrace the challenge.

The joint statement highlights the vital role professional accountants and lawyers play in fighting corruption and our deep commitment to combatting it by continuing to work with governments, regulators, law enforcement agencies, and other international organisations,” she said.

IFAC is the global organisation for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing almost three million accountants in public practice, education, government service, industry, and commerce.

‘International Federation of Accountants’ and ‘IFAC’ are registered trademarks of IFAC in the US and other countries.